Updated: Mar 7, 2022
When you’re selling a home, so much money is at stake, you can’t afford to make a mistake. That’s why the vast majority of sellers work with a Realtor. But let’s face it, real estate commissions are expensive. Are Realtors really worth it?
The size and structure of real estate commissions vary, but they range from 3% to 5% of the sale price. So, if you’re selling a house for $500,000, you’d likely pay over $20,000. Of course, your Realtor only gets half, and the buyer’s agent gets the other half. But still, $20,000 is a lot of money to pay.
Here is what good Realtors do to earn their fees:
• Use their market knowledge and experience to set the correct price.
• Suggest how to stage your home to attract buyers.
• Put your home on MLS, ads, social media, etc.
• Schedule home showings.
• Hold open houses.
• Answer your questions, provide encouragement, solve issues that arise.
• Refer you to other professionals you’ll need.
• Negotiate the best price.
• Navigate all the paperwork.
• Make sure the deal closes on time.
Sure, you can do most of this yourself; but recent data suggests “For Sale by Owner” houses sell for about 25% LESS than houses sold by Realtors. So yes, a good Realtor is worth the cost! If you’re thinking of selling, we can recommend one of our trusted local Realtor partners. Give us a call today!